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Registered number: 14007087
TITAN FLOORING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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TITAN FLOORING LIMITED
REGISTERED NUMBER: 14007087
BALANCE SHEET
AS AT 31 MAY 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2026.
The notes on pages 2 to 9 form part of these financial statements.
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
Titan Flooring Limited is a private company limited by shares, incorporated in England and Wales (registered number: 14007087). Its registered office is South Grove House, South Grove, Rotherham, South Yorkshire S60 2AF. The principal activity of the company throughout the year continued to be that of the supply and fit of floor and wall covering.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The company's functional and presentation currency is Pounds Sterling.
The following principal accounting policies have been applied:
The directors have performed an assessment of going concern at a group level including a review of financing, forecasts and covenant compliance, and having considered these factors, they are of the view that there is a reasonable expectation the group has adequate resources to continue in operational existence for a period of at least twelve months following the reporting date.
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
In the case of long term contracts, turnover reflects the contract activity during the year and represents a proportion of the total contract value. This proportion is calculated as a percentage of total expected costs.
Construction contracts
The attributable profit on long-term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project and is calculated as a percentage of total expected contract costs.
Full provision is made for losses on all contracts in the year in which the loss is first foreseen.
Trade debtors represent contract valuations and retentions certified up to one month after the year end. Amounts recoverable on contracts represent the balance of uncertified valuations.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
2.Accounting policies (continued)
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
2.Accounting policies (continued)
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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Judgements in applying accounting policies and key sources of estimation uncertainty
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In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgement (apart from those involving estimates) has had the most significant effect on amounts recognised in the financial statements.
Turnover from long term contracts
Turnover is generated from long term contracts. The group recognises contract revenue and contract costs associated with each contract using the percentage of completion method.
The recognition of revenue and profit therefore rely on estimates in relation to the stage of completion and the forecast total costs of each contract.
Margin is presented in the monthly management accounts for each contract as it is earned on the specific tasks undertaken in the period. A margin is used based on the job budget form completed at the outset, with variations requiring individual approval. Each project’s outturn is reforecast on a monthly basis, so any changes to expected final outturn are reflected in the accounts promptly. The profit to be recognised monthly is calculated on a cumulative basis so that the overall expected outturn is reflected in the cumulative position each month.
The method applies ensures that profit is recognised equally across the life of the project. The calculation of expected outturn is based on the following factors:
∙Variations to overall contract value (expected turnover) which have been agreed with the client
∙Costs incurred to date allocated to the project. These allocated costs are reviewed monthly by site managers and matched to site material lists and expected spend.
∙Budgeted overall costs as calculated at the beginning of the project during the tender process which are used to calculate the expected costs to complete.
The degree of estimation uncertainty centres around the expected costs to complete the contract which, combined with the contract turnover, are used to calculate the expected margin outturn on each project. When contract losses are anticipated these are recognised in full at the time of identification in so far as they can be measured reliably.
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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Cost of defined contribution scheme
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The average monthly number of employees, including directors, during the year was 17 (2025 - 17).
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Charge for the year on owned assets
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
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Amounts owed by group undertakings
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Prepayments and accrued income
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Gross amounts owed by contract customers
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Included in trade debtors are amounts of £497,933 (2025: £216,796) which are debts due in more than twelve months.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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100 (2025 - 100) Ordinary shares of £1.00 each
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The Company's bankers hold an unlimited Composite Company Limited Multilateral Guarantee and debenture between the following group companies: Horbury Group Limited, Horbury Joinery Limited, Tubular Scaffolding Services Limited, Titan Interior Solutions Limited, T.I.S. Services Limited, South Grove House Limited, Millstone Building Limited, Magna Plant and Tool Hire Limited, Horbury Support Services Limited (formerly known as G.B.W. (Tool Hire) Limited), Horbury Property Services Limited, Titan Flooring Limited and Environ Safety Management Limited.
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TITAN FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2026
The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £32,038 (2025 - £32,722). There was £5,959 (2025 - £5,570) payable to the fund at the Balance Sheet date.
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Related party transactions
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The company has taken advantage of the exemption under paragraph 33.1A from the provisions of section 33 of FRS 102. Related party disclosures, from disclosing transaction with wholly owned subsidiary undertakings.
Transactions during the year and balances at the year end with related parties are shown below:
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Management services paid to subsidiaries
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Rent payable to fellow subsidiaries
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Balances owed to group undertakings
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Balances due from group undertakings
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The immediate parent company is Titan Interior Solutions Limited, a company incorporated in England and Wales.
The ultimate parent undertaking and controlling party is Horbury Group Limited, which prepares consolidated financial statements of which are available from the Companies House, Crown Way, Cardiff, CF14 3UZ.
The registered office of Horbury Group Limited is South Grove House, South Grove, Rotherham, South
Yorkshire, S60 2AF.
The auditors' report on the financial statements for the year ended 31 May 2026 was unqualified.
The audit report was signed on 27 August 2026 by Andrew Irvine (Senior Statutory Auditor) on behalf of Shorts Chartered Accountants and Statutory Auditors.
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